KATHMANDU, March 11: Nepal Stock Exchange (NEPSE) on Wednesday plunged 46.78 points to close at 2,796.57 points.
This is the second day that the secondary market witnessed a heavy downswing following a massive rise after the general election. In two days, the market shed around 79 points in total.
In the intraday trading on Wednesday, NEPSE opened at 2,843.35 points added around 10 points in the pre-opening session. Following a minor fluctuation, the index reached day’s high at 2,854.26 points in the first 35 minutes. However, the market went to gradual decline almost throughout the remaining trading hours.
Nepse posts weekly loss of 73 points despite mid-week recovery
Sector-wise, mutual fund was the only group that increased by a marginal 0.07 points. Of the 12 losers, life insurance declined by the largest of 272.27 points. Manufacturing and processing, trading, hotels and tourism, and non-life insurance also had their indices declined by three-digit points.
The sensitive index which measures the performance of ‘A’ class companies declined 8.32 points. Daily turnover fell to Rs 13.18 billion from Rs 21.50 billion.
Among the individual companies, 225 lost their market charms as 34 posted gains. Ridi Power Company Limited had the largest turnover of its shares worth Rs 859.45 million.
Kalika Power Company with a decline of 8.47 percent was the topmost loser. Salapa Bikas Bank added the highest of 10 percent in its market value.
